Inflation was last below at four per cent in November 2010 after which it rose consistently to peak at 19.72 per cent in November 2011 – the highest since the introduction of the geometric calculation method in February 2009.

The most recent figure shows the 12th consecutive fall in prices relative to last year.

Food prices rose by the smallest margin despite the 36 per cent weight given to the item in the entire inflation basket.

However, the prices of clothes and footwear rose by 6.43 per cent compared to the same month last year, while hotels and restaurants showed a 7.27 per cent increase in prices. Education prices rose by 6.65 per cent.